The rise of online trade alters the role of distance between (potential) buyers and sellers. We use data from eBay subsidiary Marktplaats.nl, one of the largest online trading platforms in the Netherlands, to estimate how distance affects the probability of a transaction between small geographical regions. →

This CPB Background Document addresses whether, in the aftermath of the financial crisis, default probabilities of firms that depend more on external finance were affected more negatively than default probabilities of less dependent firms. →